NEW YORK, Jan. 18, 2023 (GLOBE NEWSWIRE) -- Big Idea Ventures (BIV), the global leader in early-stage food technology and alternative protein is pleased to announce that its Generation Food Rural Partners (GFRP) fund has received its Rural Business Investment Company (RBIC) License from the US Department of Agriculture (USDA).
GFRP was formed under the USDA’s Rural Business Investment Program (RBIP). USDA is utilizing RBIP to license funds to invest in enterprises that will create growth and job opportunities in rural areas of the United States, with an emphasis on smaller enterprises. These efforts are part of the Made in Rural America initiative which seeks to help rural businesses take advantage of new investment opportunities and access new markets abroad.
BIV and GFRP will evaluate intellectual property developed at collaborating universities to identify new developments with the strongest commercialization potential. New companies will be created around these groundbreaking research. These new companies will be headquartered in rural communities near the collaborating universities or end-user customers.
“Our partnership with Big Ideas Ventures through the Rural Business Investment Program is an opportunity to support agriculture and rural communities,” said Zach Macholan, Equity Portfolio Manager at Farm Credit Services of America. “We believe the strategy of commercializing university-developed intellectual property will introduce innovative products and technology to the market for the benefit of farmers and ranchers.” Added Macholan, “Building these companies from the ground up will help create many new jobs in rural America.”
“We are excited to bring to life an innovative approach for the next generation of food and agriculture technologies, while driving real impact in our rural communities,” said Tom Mastrobuoni, Chief Investment Officer at BIV.
“GFRP will combine the innovations that are being created at our 21 Partner Universities and the market need for innovations in the agriculture, food and protein sciences to create companies that will solve customers’ needs,” added Frank Klemens, Managing Director of the GFRP at BIV. “Placing these new companies in rural America allows GFRP to create the next generational growth of food and agriculture production in rural America.”
About Big Idea Ventures
Big Idea Ventures is the world’s most active investor in FoodTech investing in the best food technology and AgriTech companies globally. The company is focused on alternative protein with its New Protein Fund and commercialization of university intellectual property with its Generation Food Rural Partners fund. BIV is backed by a strong network of strategic partners including AAK, Avril, Bühler, Givaudan, Temasek Holdings, and Tyson Ventures, and is partnering with governments around the world working on food security and new food ecosystems. The firm has offices in New York, Paris and Singapore and has invested in more than 100 companies across 22 countries. For more information, visit bigideaventures.com.
Media Contact
Big Idea Ventures | Olivia Chavassieu | olivia.chavassieu@bigideaventures.com | +33 7 49 63 40 80
